研報掘金丨華創證券:維持海天味業“推薦”評級,目標價50元
華創證券研報指出,海天味業(603288.SH)24年實現歸母淨利潤63.44億元,同比+12.8%;24Q4歸母淨利潤15.29億元,同比+17.8%。24逆勢破局,25趨勢向上,維持“推薦”評級。短期來看,經歷三年摸索調整,24年改革成效兌現,公司經營步入反轉,向上趨勢明確,有望保持穩定增長,出海、新品等有望提供向上催化,而長期來看,烈火再驗真金,龍頭強者恆強,往後公司份額提升具備確定性,同時此次分紅比例提升至75%,未來低利率環境下也值得更多確定性溢價。維持目標價至50元,對應25年約39倍PE,維持“推薦”評級。
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